Quotes of the currency pair Dollar/Yen USD/JPY are ending the trading week near the 150.00 area. Moving averages indicate a bullish trend. Prices are testing the area between the signal lines again, indicating pressure from US dollar buyers and potential continued growth from current levels. At the moment, we should expect an attempt to develop a price rise and test the resistance level near the 152.05 area. Then, a rebound downwards and continued fall of the pair to the area below the 142.75 level.
USD/JPY Forecast and Analysis December 9 — 13, 2024
An additional signal in favor of the fall of the Dollar Yen pair in the current trading week will be a test of the descending trend line on the relative strength indicator. The second signal will be a rebound from the lower border of the bullish channel, which was broken down by sellers. The cancellation of the USD/JPY fall option in the current trading week of December 9 — 13, 2024 will be strong growth and a breakout of the 157.05 area. This option will indicate a breakout of the resistance area and continued growth of the pair on Forex to the area above the 162.25 level. The USD/JPY pair will be confirmed by a breakout of the support area and a price close below 146.55, which will indicate a breakout of the lower boundary of the bullish channel.
USD/JPY Forecast and Analysis December 9 — 13, 2024 suggests an attempt at correction and a test of the resistance level near the 152.05 area. From where we should expect the pair to continue falling to the area below 142.75. An additional signal in favor of the fall will be a test of the trend line on the relative strength indicator. The cancellation of the pair’s decline option will be a strong growth and a breakout of the 157.05 level. This will indicate a continuation of the pair’s rise with a potential target above the 162.25 area.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
